The dawn of a new year often brings a surge in returns as shoppers assess their holiday purchases. The first Monday after New Year’s Day in the United States marks a spike in returned items, as observed by UPS. However, what was once a single-day event has now evolved into a week-long wave of returns, affecting retail businesses handling the post-holiday aftermath.
Holiday returns prediction 2024
According to DigitalCommerce 360, estimates suggest that $131 billion worth of holiday purchases will be returned this year. With return rates expected to hit around 20% in the weeks following the holidays as people return gifts, navigating this surge is crucial for businesses aiming to streamline returns processes and meet customer expectations.
Tips for handling holiday returns
Extend the return window
Consider extending the standard return window. Offering an extended return period gives customers more time to decide and eases the pressure of handling a large volume of returns immediately after the holidays.
Encourage exchanges over refunds
Promote exchanges over refunds wherever possible. Encouraging customers to exchange items for alternatives rather than seeking refunds not only keeps customers satisfied but also minimizes the workload of processing refunds.
Promote sustainable disposal or resale
Adopt eco-friendly methods for handling returns. Consider recycling, refurbishing, or reselling usable products to minimize waste and contribute to environmental conservation efforts.
Streamline returns process
Simplify the return process as much as possible. Clearly outline return instructions, provide pre-paid shipping labels, and ensure a user-friendly online return portal to facilitate hassle-free returns.
Implement efficient logistics
Optimize your reverse logistics and warehouse operations to handle returns efficiently—returns hub in strategic locations for processing returns to streamline inventory management and reduce delays.
As the retail landscape adapts to meet the challenges posed by holiday returns, retailers should prioritize customer experience while effectively managing the logistical aspects of returns processing. Empower your retail journey with CIRRO E-Commerce’s returns solutions. We optimize returns management, ensuring seamless processes and a competitive edge. Talk to CIRRO E-Commerce experts to revolutionize your returns strategy and elevate your brand’s standing during the post-holiday returns rush.
